Michael Otto Net Worth

Michael Otto is a German businessman with a net worth of $16 billion. He is the head of the Otto Group, the world's largest mail order company. Otto Group is a conglomerate that operates in over 20 countries and has over 50,000 employees. Michael Otto has been credited with transforming the company into a global powerhouse.
Michael Otto is a member of Richest Billionaires

Age, Biography and Wiki

Who is it?	Businessperson, Environmentalist
Birth Day	April 12, 1943
Birth Place	Germany
Michael Otto age	80 YEARS OLD
Birth Sign	Aries
Net Worth:	$16 Billion
Gender:	Male

💰 Net worth: $8.7 Billion (2024)

Some Michael Otto images

The company also holds the second largest position for online retailers, behind conglomerate Amazon.com. His company once owned Spiegel, Inc., which is a parent to Eddie Bauer. However, the company filed for bankruptcy in 200. Then in 2005, Spiegel, Inc. was born out of Eddie Bauder Holdings, which is now mostly owned by Commerzbank. Otto's family also owns a large amount of real estate, which is spread out across the United States as well as Canada. They also own the shopping center chain, Crate & Barrel.

Otto is known for his interests in environmentally-friendly ventures, and has worked to create a number of "green" products that are put out by his companies. In 1993 he founded the Michael Otto Foundation, which works to help multi-million dollar companies stay invested in environmentally friendly issues. He has earned two doctorate degrees, one from the University of Hamburg and the other from the University of Munich. Otto is married and the father of two children.